How to Prepare Before Buying a Condo in Manila

Swimming pool in the middle of condo buildingsHaving your own condo is perhaps one of the most practical and easiest ways to invest in a property in the metro. With all the available condominium units to choose from, finding the right one is possible. But because of the varying options, it can be an overwhelming task.

Avoid having regrets with your purchase by knowing the things to consider before buying that condo for sale in Manila, Philippines.

Financial capacity

Banks have made it easy for an ordinary Filipino to get home loans. But more than deciding which type of loan is best for you, it is important to have your finances in order before jumping into the waters. Owning a condo unit is almost like a lifetime commitment and you need to be ready to pay the unit, as well as the association dues, without compromising your lifestyle or your future.

Location

With condominium units popping out all over the metro, you have the liberty to choose which one is the most practical for you and your family. Prioritizing the location will be the key to living comfortably and conveniently.

Developer

Always conduct a background check with your developer. Choosing to buy from developers with a good reputation in the industry can give you peace of mind upon your purchase.

Long-term plans and condo type

The type of unit you would choose would depend on how you plan to use it. Will you be living there? Is it a place where you will occasionally visit? Will you put it up for rent? Answering these questions and more about how the unit will be used in 10 years’ time can help you choose the right one.

Have your mind set in buying a condo? Keep these things in mind and see how they can make the decision-making process easier.